NZDUSD Analysis – 6-June-2024

NZD/USD—The New Zealand dollar has recently strengthened beyond $0.62, reaching a three-month high. This rise is primarily attributed to the weakening of the US dollar. Investors increasingly expect the Federal Reserve to cut interest rates twice this year due to disappointing US employment statistics.

NZDUSD Analysis - 6-June-2024

NZDUSD Analysis – 6-June-2024

These poor job numbers have heightened the anticipation that the Fed will lower its key interest rate in September and potentially once more before the year’s end.

Attention is now turning to the upcoming US jobs data, set to be released on Friday. This report is anticipated to offer more detailed insights into the current state of the US labor market. The findings could significantly influence future monetary policy decisions and market movements.

On the domestic front, the Reserve Bank of New Zealand (RBNZ) is projected to maintain its current policy stance until at least mid-2025. This extended period of stability allows for a comprehensive assessment of economic data, thereby providing ongoing support to the Kiwi dollar.


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